The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC) Bello Hassan, has stated the reason for delays in payment of Heritage Bank customers.
He said that account name dissimilarities in the Bank Verification Number (BVN)-linked alternate accounts of some defunct Heritage Bank Customers is causing the delay of their insured deposits.
He added that the corporation had paid a significant sum to customers void of BVN account-linked issues.
Heritage Bank depositors who have yet to receive their insured deposit credit alert are urged to visit the NDIC’s website and complete their payment verification forms. The verification includes depositors without a BVN alternate account.
” We have already commenced the payment of customers since June 6.
” We have paid a substantial amount to the customers.
” What we leverage in making the payment is the BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.
” There are some that we have challenges linking up because of some discrepancies between the names and others.
” We are calling on customers that have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them,” he said.
Customers with over five million naira in the bank will be paid liquidation dividends.
Hassan revealed that the NDIC has initiated the disposal of the physical buildings and has set in motion processes that will ensure that loans and advances granted by the bank are recovered.
” That is what we use in paying those liquidation dividends.
” We are not going to wait until we recover everything, no.
” As we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the lookout for alerts in their accounts,” Hassan said.
Recall that the Central Bank of Nigeria(CBN) withdrew Heritage Bank PLC’s banking licence on June 3, 2024. The decision was made due to the bank’s inability to improve its financial performance, which threatened financial stability.